Chapman Tripp advises on sale of Transpacific's New Zealand business

Chapman Tripp advised Transpacific Industries Group (ASX:TPI) on the sale of its New Zealand business to a wholly owned subsidiary of the Beijing Capital Group.

The NZ$950m sale is expected to close by the end of June 2014 and is subject to Overseas Investment Office (OIO) consent and Chinese regulatory approvals.

Partner John Strowger led the Chapman Tripp team, which also included senior associate Jarrod Murphy and solicitor Radhika Rani. The team advised on all New Zealand aspects of the competitive bid process and sale, including preparation of the vendor’s due diligence report and review of the OIO application.

John Strowger said: “We were delighted to have the opportunity to work with the TPI team and its other advisers on this transaction and are very pleased with the outcome achieved for the client.”